The White House wants AI companies to cover rate hikes. Most have already said they would.

This is political theater dressed as policy. The White House announces AI companies should cover rate hikes, companies say 'yeah, we already promised that'—everyone goes home happy, zero actual regulation happened.

Companies made these commitments because margins are good enough that absorbing 2-3% energy cost increases doesn't hurt. It's not magnanimity; it's math. They can't say 'we'll pass it to users' because the optics are terrible, and they can't say 'we'll eat it' because that looks naive. So they stay silent until asked, then say 'sure.'

Real talk: energy costs aren't the constraint yet. Electricity's still cheaper than GPU amortization. When it flips—and it will—watch how fast these commitments evaporate.